Daily Equity Report By www.epicresearch.co - 29 JUNE 2012

Daily Market * Indian equity markets up 0.14%. * Nifty up 7.25 pts and settle at 5149.15. * Sensex was up 23.00 pts at 16990.76. * Bank Nifty down 13.95 pts at 10003.85. Global Market

Indore, India (prHWY.com) June 29, 2012 - Daily Market
* Indian equity markets up 0.14%.
* Nifty up 7.25 pts and settle at 5149.15.
* Sensex was up 23.00 pts at 16990.76.
* Bank Nifty down 13.95 pts at 10003.85.
Global Market
* European markets were down with FTSE down by 67.82 pts at 5456.10, CAC down by 28 .31 pts at 3034.81 and DAX down 107.96 pts at 6121.03
* Dow future down 87.00 pts at 12466.00.
* S&P/CS Composite-20 HPI y/y is 2.0M & previous 1.7M
Market Analysis
The 30-share BSE Sensex traded at the lowest point of the day in quiet trade Thursday.
The Nifty index also slipped below the 5,150 mark, but the rupee pulled back below the
57 mark to the dollar. This is the third straight day of lacklustre trade in Indian stocks.
Markets were uncharacteristically flat ahead of the derivatives expiry. At 1 p.m., the
Sensex rose 25 points or 0.15% higher at 16,993, while the Nifty index advanced 6 points
to 5,148
European markets were flat, while Asian stocks saw mixed trade today. Japan's Nikkei
index soared 1.65% on the back of positive data from the US, where pending home sales
rose in May.
Auto stocks (-0.5%) saw selling pressure, mainly on account of the underperformance in
Tata Motors (-1.6%), which fell for the second straight day..
Banking stocks were down on the back of large block deals in private sector lender Axis
(-2.3%) and Yes Bank (-2.2%). State Bank of India (-1.2%), India's biggest lender, also
saw selling pressure.
On the Nifty, 29 of the 50 stocks traded higher. Infra major Jaiprakash Associates
(1.5%) was the top gainer, followed by engineering goods manufacturer Siemens India
(1.5%)..
The market breadth was neutral with 50% stocks managing to advance on the broader
BSE 500 index.
News you can use
* In a bid to check rupee's free falling against the US dollar, the Reserve Bank of India (RBI) on Monday hiked the limit of external commercial borrowing (ECB) by USD 10 billion. Moreover, the regulator also increased the limit of overseas investment in government bonds by USD 5 billion to USD 20 billion.
* Monsoonrains18 percent below average in week toJune27 reflecting a lull phase over oilseed-growing areas of central India
* HSBC disposes of Noncore investment in India-The sales of 4.73% in Axis Bank limited and 4.74% in Yes Bank Limited were undertaken on BSE and NSE of India respectively
Factors to watch:
* Rupee to stop falling?
* Progress of rains/US storm impact on Oil Prices.
* Low Bond yields expecting out of turn action by RBI?
* Volatility ahead of F&O expiry.
* Government Rejig: Who will be the FM?
* Nifty support @ 5070 & resistance @ 5240.
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